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If you’ve been following the minerals sector of late, the word ‘vanadium’ has probably popped up once or twice: here’s why.

Vanadium is basically a hard, silver-grey metallic which is growing in popularity as an alloy metal, commonly used in steel fabrication, because it has a natural resistance to corrosion and has stability against alkalis, acids, and salt water.

Addition of vanadium into steel makes it more heat resistant as well.

All of which are usually poison to steel and iron — and in fact about 85 percent of all vanadium produced goes into steel to make it stronger.

You’ll often find it in gears, axles, and crankshafts where its properties of being extra-tough and heat-resistant come in handy.

It can also be used in space vehicles, nuclear reactors, and aircraft carriers, and in the manufacture of sulphuric acid.

There’s also promising research around the use of vanadium in the cathodes of batteries for electric vehicles, which could be an absolute game-changer for the mineral.

Because of its use in batteries, vanadium is often hyped as the next lithium — which in itself went from $4000 per tonne in 2008 to $16,000 a decade later.

ASX-listed miners of vanadium include:

Pursuit Minerals (ASX:PUR)

Pursuit acquired its high quality vanadium projects in Finland and Sweden in 2018, and has since made great progress in delineating resources and completing scoping studies at its key projects – Airijoki in Sweden and Koitelainen in Finland.

Technology Metals Australia (ASX:TMT)

Closer to home, Technology Metals Australia Limited (ASX: TMT) is focused on developing the 100 percent owned Gabanintha Vanadium Project located in Western Australia.

A PFS on the project delivered a maiden Ore Reserve of 16.7Mt @ 0.96 percent V2O5 and a project post tax NPV of $850m (US$589m) from an initial 13-year mine life. Technology Metals Australia’s Gabanintha project is set to be one of the largest pure play vanadium operations in the world with a peak production output of 13,000t V2O5per annum.


Star Investing has a commercial partnership with some companies mentioned in this article. This content does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.